Electric Insulator Market to Reach US$ 17.0 Billion by 2028, CAGR of 5.3%

According to IMARC Group's latest research report, titled "Electric Insulator Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," The global electric insulator market size reached US$ 12.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.

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Electric Insulator Market Outlook:

An electric insulator refers to a material that inhibits the flow of electrical current. It exhibits high resistivity and assists in concentrating the flow of electric current as well as preventing it from flowing where it is not required. It offers various benefits, including improved energy efficiency, versatility, reliable electrical transmission, electrical safety, and protection of equipment. As a result, it is widely used in electrical circuits to protect properties and lives from electrical mishaps. It is also utilized for coating wires, in electricity distribution networks, and as dielectrics in capacitors. It is gaining traction as it offers protection against the hazardous effects of electricity and is widely used in electricity transmission and distribution (T&D) networks. Some commonly available electric insulators include air, glass, ceramic, composite materials, rubber, plastic, wood, silk, and paper.

Electric Insulator Market Drivers and Demand Analysis:

The rising need for electricity across the globe is driving the global market. Moreover, the growing adoption of renewable energy sources such as wind and solar power is catalyzing the demand for electric insulators, as these sources require specialized insulation materials to ensure efficient and safe operation. Besides, to reduce the risk of electrical failures, the governments are heavily investing in upgrading and modernizing their electrical infrastructure, which is creating a positive market outlook.

Furthermore, continuous technological advancements in insulating materials, such as nanocomposites and smart insulators, are acting as another growth-inducing factor as these materials offer enhanced performance, durability, and safety compared to traditional insulating materials and are extensively utilized in various applications.

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Key Market Segmentation:

Top Electric Insulator Manufacturers Worldwide:

• ABB
• NGK Insulators Ltd
• Aditya Birla Nuvo
• Siemens AG
• General Electric
• Hubbell Incorporated
• Bharat Heavy Electricals Limited
• Toshiba
• Krempel
• MacLean-Fogg
• PFISTERER
• Seves Group
• WT Henley

Breakup by Material:

• Ceramic/Porcelain
• Glass
• Composites
• Others

Breakup by Voltage:

• Low
• Medium
• High

Breakup by Category:

• Bushings
• Other Insulators

Breakup by Installation:

• Distribution Networks
• Transmission Lines
• Substations
• Railways
• Others

Breakup by Product:

• Pin Insulator
• Suspension Insulator
• Shackle Insulator
• Others

Breakup by Rating:

• Less than 11 kV
• 11 kV
• 22 kV
• 33 kV
• 72.5 kV
• 145 kV
• Others

Breakup by Application:

• Transformer
• Cable
• Switchgear
• Busbar
• Surge Protection Device
• Others

Breakup by End Use Industry:

• Utilities
• Industries
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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This release was published on openPR.